The profitability and security of RMB wealth management products
Li Yulin said that a benchmark of RMB wealth management products is the bank's time savings deposits. At present, most of the RMB wealth management products issued by banks are half-year and one-year. In terms of security, the security of RMB wealth management products and time deposits is basically the same. In terms of income, compared with fixed savings deposits in the same period, its yield can generally be increased by about 50%, so the yield advantage is particularly obvious. For example, Huaxia Bank recently launched the "Huaxia Wealth Management-Steady Win 1" RMB wealth management product, with a one-year after-tax rate of return of 3%, while the one-year fixed deposit in the same period was 1.8%. Comparatively speaking, its yield has increased by about 66%, which is equivalent to one and a half years' fixed deposit. Its liquidity is worse than that of time deposit. Time deposits can lose part of their income or be withdrawn in advance, but there are two kinds of RMB wealth management products under redemption: one is non-redeemable, and the funds cannot be redeemed during the wealth management period, so the short-term capital demand can only be solved through the pledged loans provided by some banks for RMB wealth management products, while ensuring the income during the wealth management period; The other is redeemable, which can provide certain redemption times and opportunities and solve the liquidity problem of investors to some extent. But the redeemable rate of return will be lower.
Wealth management products have geometry.
How many financial products are suitable for investors on the market at present? Li Yulin believes that the first is savings deposits with different maturities, and everyone can make different investments according to the situation of idle funds. This is the most familiar financial product, with the largest amount, but the yield of savings deposits is relatively low; The other is the national debt, which has been selling very hot for many years. The yield of government bonds is much higher than that of savings deposits, but the maturity is relatively long and the liquidity is worse than that of savings deposits. In recent years, fund products have developed rapidly. In the past, investors invested a small amount of their own funds in the stock and bond markets. The research and accumulation of investors in this area is relatively limited, which may bring high returns in the short term, but in the long run, investors may not grasp it well. The fund manages money through experts and analyzes the market through a special research team. Individual investors can invest through the Fund to spread risks and improve returns. Funds are also a good investment channel for individuals. In addition, trust products are irregular, the quantity is relatively small, and the entry threshold is relatively high, which is only suitable for some investors; Personal speculation in gold has also attracted more and more attention, which is related to the world economic environment in recent years: several wars in the Middle East and the continuous depreciation of the US dollar have made it very important to preserve and increase the value of assets. In the past, many people held some dollars to preserve their value, but the continuous depreciation of the dollar made many people exchange dollars for other foreign exchange assets or gold. The price of gold has been rising for more than a year, with a considerable increase. Gold trading is developing in China and gradually spreading to the public. In the near future, it will be as convenient for everyone to invest in gold as it is in the stock market.
What are the differences between RMB wealth management products launched by different banks? Li Yulin said that different banks' RMB wealth management products are basically the same in design ideas, investment fields and term, and belong to the same kind of products, with little difference. The only difference is that there are some differences in the branches of each bank's own fee collection space. For customers, the yield of RMB wealth management products of each bank is different, which is not much different. In addition, there will be some differences in the investment direction and combination direction of bonds and money market products corresponding to the funds of wealth management products. The investment direction of RMB wealth management products is almost the same as that of money market funds, and the yield is close. In the distribution of wealth management funds, some of them are invested in bonds with corresponding maturities, and some may be placed in asset pools such as bank deposits. The asset pool has been established before customers buy products, and the rate of return has been determined (the rate of return is within the overall rate of return of assets), so the rate of return is guaranteed.
Why do RMB wealth management products sell well?
Huaxia Bank launched the "Steady Win 1" wealth management product, which was put on sale from 65438+February 2 1 and was warmly welcomed by everyone as a whole. The overall sales volume was two weeks, and one third was sold in the first two days. The quota allocated in Beijing was only 300 million, and it sold 250 million on the first day in Beijing. The head office transferred some from other regions, which generally met the needs of Beijing. Like Beijing, the coastal areas can gradually meet everyone's needs only after the quota has been repeatedly increased. Generally speaking, there is a great market demand for this product. Li Yulin said that there are relatively few types of wealth management products suitable for public investment, so products with relatively high returns such as RMB wealth management and national debt products are sought after by everyone. People who buy RMB wealth management products and national debt are generally close, and they are all over middle age. Such as futures, stocks, foreign exchange and other investment tools, the income will be much higher, but the risk is relatively high. In the long run, unless a few investors who specialize in this field may get relatively high returns, most people will even or lose money. The income of customers over middle age is generally stable, and the source of income may gradually shrink. Therefore, in order to ensure their future life, the first thing is to require their own assets to be safe, and there can be no big losses; The second is to strive for a relatively high income. Therefore, the RMB wealth management products launched by several banks can generally meet their needs. Their security is similar to that of bank deposits, and their income is about 50% higher than that of bank deposits, so they are very attractive to this part of the customer base. The sales of RMB wealth management products launched by these banks in the early stage are very good.
Investment is more or less risky. Li Yulin said that the risks of RMB wealth management products are mainly reflected in the external environment. The product is designed according to the current market interest rate. If the central bank raises interest rates sharply, it may lose other better investment opportunities. In addition, banks, as enterprises, also have operational risks, which may affect the safety of products because of bank problems, but this possibility is very small. At present, the number of domestic banks is relatively small, and the asset adequacy ratio and asset safety of each bank are under strict supervision, so this risk hardly exists in the short term.
Why do small and medium-sized banks love RMB wealth management products?
Why are some small and medium-sized banks launching RMB wealth management products? Li Yulin said that there is a great demand for personal services, but the service products of banks are relatively few. Now banks are looking for products to meet the needs of customers. In this regard, small banks are doing faster, and they are under greater pressure because they want to expand their business and increase new sources of profits. After so many years of economic development, investors' personal property is constantly accumulating and growing at a relatively fast speed, so this is a new field. In the original field, the share of industry, agriculture, China and construction is relatively large, and the competitiveness of small banks is not so strong. However, in the new business field, these banks started at the same time. Small banks have more opportunities, greater strength and faster actions, and small banks have done better in personal services.
In the case of raising interest rates, which is more economical to buy RMB wealth management products or money market funds? Li Yulin said, first of all, the year-on-year growth rate of consumer price index in June 5438+ 10 and June 5438+065438+ 10 was continuous downward. Because the interest rate hike cycle may be a long and slow process, and the rate of interest rate hike will not be too large every time, the yield of RMB wealth management products is generally about 50% higher than that of savings deposits in the same period, so even under the expectation of interest rate hike, its yield space will still be large enough. On the other hand, compared with money market funds and RMB wealth management products, first of all, the income of funds does not belong to shareholders, but fluctuates according to market conditions. For example, stock funds may be very high in the short term, and sometimes they will lose money according to the decline of the market. Its benefits and risks are corresponding. Money market funds are safer than stock funds. The investment field is a money market tool, which belongs to fixed income products, so the risk is relatively small, but the income is also affected by the bond market, but the fluctuation is relatively small overall. Compared with RMB wealth management products, money market funds have the advantage of good liquidity, and the purchase and redemption fee is zero, but the disadvantage is that the income is not fixed. For those who buy treasury bonds and RMB wealth management products, the most important thing is that its income is fixed.
How to buy RMB wealth management products
So, how to buy RMB wealth management products? Li Yulin said that it is very convenient to buy. For example, the sales period of Huaxia Bank's wealth management products is 65438+February 2 1 to 65438+20051October 3. If necessary, you can take your ID card to the bank outlet as soon as possible, either in cash or by transfer. Li Yulin believes that RMB wealth management products are suitable for investment groups over middle age. In addition, those who have some idle funds and these idle funds have a long term are also suitable for purchase.
Not long ago, many people criticized RMB wealth management products, saying that they were suspected of absorbing deposits at high interest rates. In addition, providing a fixed income does not conform to the concept of wealth management. From the design point of view, RMB wealth management products are indeed safe and the income is relatively fixed, because it first establishes an asset pool, determines a fixed rate of return after the asset pool is established, and then determines the rate of return on sales under this rate of return. The products that customers see are generally fixed-term and yield. With the intensification of competition, the possible rate of return will gradually increase. However, banks, as enterprises, also require profitability. Banks will fully consider this issue when developing products, and will not give up the proceeds to develop this product. Therefore, the yield will not continue to rise, but will be within a certain limit. In terms of supervision, relevant regulations will be issued soon to regulate the design, management and competition of products.